Facebook and PayPal Collaborate to Allow Peer-to-Peer Payments

rssmasherComments Off on Facebook and PayPal Collaborate to Allow Peer-to-Peer PaymentsMisc

Oct27

Facebook is making it easier for users to send and receive money. Online payment giant PayPal announced that Facebook users can now make peer-to-peer payments via Messenger by using their PayPal accounts.

The agreement between Facebook and PayPal will also make it easier for the social network’s users to fund online purchases or send money even if they cannot provide credit or debit card information. The peer-to-peer payment started going live on October 20, 2017, but is currently only available for users within the United States. At the moment, it is not yet clear if the service will be made available for users located in other parts of the globe in the future.

The new feature can be accessed in the same manner as setting up a credit card or debit card payment method by simply tapping on the plus icon to access the Payments option. Users will then be presented with two methods to choose from—cards or PayPal. Choosing PayPal will link you to Facebook Payments, which doesn’t require credit card or debit card information.

PayPal’s entry as one of the social media platform’s payment option is expected to boost Facebook’s status as an eCommerce hub. Online transactions within the social media platform are already on the rise with around 450 million active users per month.

The online payment system is continuing its thrust to be the payment system of choice for online transactions. Recently, PayPal also partnered with the popular messaging app Skype, making it possible for users to send money even in the middle of a chat, a useful feature for those living a mobile lifestyle.